1.It is estimated that during any one hour period, an average of 10 Internet users visit the
website of Sport-Equip Ltd,
...
of Sport-Equip Ltd, a company that sells sports equipment. Some of the users
who visit the website end up buying sports equipment from the website while others are
simply browsing in order to obtain product information.
(a) Clearly explain and justify which probability distribution you would use to
describe the number of Internet users who visit the website of Sport-Equip Ltd
in a one hour period. [There is no need to calculate any probabilities for this part
of the question]
(5 marks)
(b) What is the probability that during any half-hour period, there will be less than 3
visitors to the website?
(5 marks)
(c) What is the probability that during any two-hour period, there will be more than
15 visitors to the website?
(5 marks)
(d) If a user has just visited the website, find the probability that the website will
have another visitor within the next 10 minutes. In your answer, state the
probability distribution you have used and explain your choice.
(4 marks)
(e) It is estimated that 40% of Internet users who visit Sport-Equip Ltd’s website
buy a product from the company. If 100 users visit the website over a given
period of time, find the probability that more than 50 of them will buy a product
from the company. In your answer, state the probability distribution you have
used and explain your choice
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8.4. Outdoor World buys plastic pools from a supplier with an invoice amount of $36,465. The terms of sale are
...
sale are 5/10, n/30. If the
retailer sends a partial payment $8,700 on the discount date.
a. How much credit is taken off the bill due to the partial payment?
b. What is the net amount still due?
5. Jen’s Pottery Shop orders china from a supplier for $240 including $30 freight charges. The terms of sale are 3/10, n/30
ROG. The china arrives on 11/21 and Jen wants to take advantage of the cash discount.
a. As bookkeeper for Jen’s, how much will you send the supplier?
6. A small business receives an invoice for merchandise on August 5. The terms of sale are 2/20, n/30. If the manager elects to take the cash discount, what is the discount date?
7. Price Company received an invoice in the amount of $3,800 dated May 24 for merchandise they purchased. The terms of sale
are 3/15, 2/30, n/45. The Company plans to pay the invoice on June 20th?
a. What is the percentage the company will save by sending it on this date?
8. Luggage World buys briefcases with an invoice date of April 28. The terms of sale are 2/10 EOM. What is the discount date?
9. Chuck’s Chops, an upscale steak house, received an invoice for 800 pounds of baking potatoes with a cost of $.85 per pound.
The terms are 2 ½ /10, n/30. Chuck was unable to pay the bill in full within the discount period but was able to remit a partial
payment of $575.00 within the discount period. How much credit did Chuck receive for his partial payment?
10. A toy store buys stuffed animals with a list price of $17,000. If the wholesaler offers trade discounts of 32/27/15,
a. Find the trade discount amount of the stuffed animals?
11. The invoice on an invoice was February 11th with terms of sale 2/10, 60 Extra.
a. What is the discount date?
b. What is the net date?
12. Stan ordered merchandise on October 26th, the terms of sale for his item was 2/10, ROG. If his item was received on
November 27th?
a. What is the discount date?
b. What is the net date?
13. Josie ordered an item on June 27th with terms of sale 3/15, EOM.
a. What is the discount date?
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